Yes, you should amend your return as soon as possible because you need to know if you have to pay back part of your original refund, but as soon as possible is after February 15, even if you get your refund sooner.
The IRS won't accept an amendment before that date, so the option isn't available yet.
If you owe when you file your amendment, just pay the tax due on or before April 15 and you won't owe any penalties.
As far as being notified of a rejection, this comes as an email from TurboTax, or a text, if you signed up for text alerts. You can also check your status by signing in to your TurboTax account.
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